Florida Advances Proposal for Standalone Bitcoin Reserve Ahead of 2026 Session

2026/01/09 13:21

Florida’s SB 1038 proposes a “Strategic Cryptocurrency Reserve” to hold Bitcoin, managed separately from general state funds by the Chief Financial Officer.
The bill restricts purchases to assets with a $500 billion average market cap, effectively making Bitcoin the only eligible cryptocurrency for the state’s treasury.
Unlike failed 2025 efforts to invest in pension funds, this narrow plan establishes a dedicated advisory committee and strict custody rules to diversify Florida’s holdings.

Florida is considering a bill to set up a state-controlled Bitcoin reserve. It would be run by the state’s Chief Financial Officer (CFO) and kept separate from the normal state funds, with its own storage and reporting rules.

The Senate Bill SB 1038 effectively allows only Bitcoin because it requires a very large market size. Supporters say it could help protect against inflation and diversify the state’s holdings.

If this one passes, Florida would be among a small group of states moving toward holding crypto in public finances, including New Hampshire, Texas, Arizona, and Wyoming.

Read more: SCI Reprieve Lifts Strategy Shares, Keeps Crypto Treasury Firms in Indexes

A New Attempt

Florida has tried similar ideas before. Broader bills in the 2025 session that would have allowed parts of public funds to be invested in BTC stalled and died in committee, and another pending House proposal for 2026 would allow up to 10% of certain funds to go into digital assets and related products.

Instead of spreading crypto exposure across existing state funds, the measure creates a separate “Florida Strategic Cryptocurrency Reserve.” It sets specific custody standards, requires regular reporting, and calls for an advisory committee to oversee how the reserve is run.

A different bill already filed for 2026 by Rep. Webster Barnaby would take a much wider approach, allowing up to 10% of certain state and local funds to be allocated to digital assets and exchange-traded products, including areas that touch pensions and multiple trust funds. Gruters’ plan is narrower, keeping any Bitcoin exposure inside a dedicated reserve.

Read more: TD Cowen Warns Midterms Could Stall Crypto Market Structure Push

The post Florida Advances Proposal for Standalone Bitcoin Reserve Ahead of 2026 Session appeared first on Crypto News Australia.

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The post MoneyGram launches stablecoin-powered app in Colombia appeared on BitcoinEthereumNews.com. MoneyGram has launched a new mobile application in Colombia that uses USD-pegged stablecoins to modernize cross-border remittances. According to an announcement on Wednesday, the app allows customers to receive money instantly into a US dollar balance backed by Circle’s USDC stablecoin, which can be stored, spent, or cashed out through MoneyGram’s global retail network. The rollout is designed to address the volatility of local currencies, particularly the Colombian peso. Built on the Stellar blockchain and supported by wallet infrastructure provider Crossmint, the app marks MoneyGram’s most significant move yet to integrate stablecoins into consumer-facing services. Colombia was selected as the first market due to its heavy reliance on inbound remittances—families in the country receive more than 22 times the amount they send abroad, according to Statista. The announcement said future expansions will target other remittance-heavy markets. MoneyGram, which has nearly 500,000 retail locations globally, has experimented with blockchain rails since partnering with the Stellar Development Foundation in 2021. It has since built cash on and off ramps for stablecoins, developed APIs for crypto integration, and incorporated stablecoins into its internal settlement processes. “This launch is the first step toward a world where every person, everywhere, has access to dollar stablecoins,” CEO Anthony Soohoo stated. The company emphasized compliance, citing decades of regulatory experience, though stablecoin oversight remains fluid. The US Congress passed the GENIUS Act earlier this year, establishing a framework for stablecoin regulation, which MoneyGram has pointed to as providing clearer guardrails. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/moneygram-stablecoin-app-colombia

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